Disney profit beats expectations
Written on August 1, 2008
The Walt Disney Co. says its third-quarter profits surged nearly 9% thanks to revenue growth at ESPN and strong results from its theme park near Paris, where the weak U.S. dollar was helpful.
The family entertainment company said Wednesday that its net profit grew to $1.28 billion in the quarter ending in June, up from $1.18 billion a year ago.
Revenue grew 2% to $9.24 billion.
Earnings per share from continuing operations were 66 cents, up from 58 cents a year ago.
The results beat analysts expectations creditreports. They forecast 1% revenue growth to $9.14 billion and a 5% increase in earnings per share to 61 cents, according to a survey by Thomson Financial.
Filed in: money.